Which Rental Term Should You Choose?
If you’re thinking of investing in a student rental, the rental term is very important.
There are two terms. Landlords either go with September 1st to August 31st or the May 1st to the April 30th term. Some landlords prefer the September 1st to August 31st, but we typically recommend the May 1st to the April 30th term.
Most students want to lock down their rental prior to the school year ending in April. Many of them go away for the summer and they don’t want to come back to hunt for a rental before school starts.
The other reason it’s a better option is if the months where they’re gone are at the end of the term, they may skip out on the rent. With the May 1st to April 30th option, the months they’re gone is at the beginning of the term. So, you’re going to get that rent.
If possible, make your term May 1st to April 30th. It’s the small details that can save you a lot of grief.